FNSFMK515 - CPD Research Report v1.1

docx

School

The University of Sydney *

*We aren’t endorsed by this school

Course

6840

Subject

Business

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by yagamigenko

FNSFMK515 – Comply with financial services regulation and industry codes of practice (Release 1) CPD Research Report Research Report Page | 1 of 7 © Real Estate Academy Australia RTO 32436 Version 1.1 – January 2022

FNSFMK515 – Comply with financial services regulation and industry codes of practice (Release 1) CPD Research Report What you need to do: Answer the questions below by writing in the space provided. You are required to answer all questions correctly. If correct, you will see ‘Satisfactory’ or if incorrect you will see ‘Not Satisfactory’ in your grades section of your learner portal next to the assessment name. The assessor will provide feedback and a Record of Results in the assessment task once graded. You will be required to resubmit your work for any ‘Not Satisfactory’ assessment tasks. What you will need: Use the learner material provided in your online student portal as well as research materials such as books, internet, magazines, workplace documentation etc. to assist you in gaining the knowledge required to answer the questions. Remember that the assessment is completely self-paced and open book, so you can use whatever resources you have to answer the questions. What you need to submit: Your answers to these questions. How to Submit your Assessment: Upload your completed document into the “FNSFMK515 – CPD Research Report” Online Assessment in your learner portal. You can drag and drop the file into the window or use the add file icon in the top left of the submission window and select the file your wish to upload by using the browse/choose file option. Click on finish attempt to submit it for grading. Page | 2 of 7 © Real Estate Academy Australia RTO 32436 Version 1.1 – January 2022

FNSFMK515 – Comply with financial services regulation and industry codes of practice (Release 1) CPD Research Report Question 1 Search and find out what is the minimum CPD per year MFAA members are required to attend to maintain their membership. 30 hours Page | 3 of 7 © Real Estate Academy Australia RTO 32436 Version 1.1 – January 2022

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

FNSFMK515 – Comply with financial services regulation and industry codes of practice (Release 1) CPD Research Report Question 2 Search and find out what is the minimum CPD per year FBAA members are required to attend to maintain their membership. 25 hours Question 3 Read the FBAA CPD Guidelines and complete a yearly FBAA Record Card for your colleague Liliane Bree member M312407. You are required to make up a record card by using at least four different CPD activity categories and ensuring you are following the FBAA CPD Guidelines. Take a screenshot of the completed FBAA Report Card and insert in the picture field below. Page | 4 of 7 © Real Estate Academy Australia RTO 32436 Version 1.1 – January 2022

FNSFMK515 – Comply with financial services regulation and industry codes of practice (Release 1) CPD Research Report Page | 5 of 7 © Real Estate Academy Australia RTO 32436 Version 1.1 – January 2022

FNSFMK515 – Comply with financial services regulation and industry codes of practice (Release 1) CPD Research Report Question 4 According to the FBAA Associate Member Checklist , list all the supporting documentation and information that a new mortgage broker will need to provide to validate a FBAA membership.  Payment of annual membership fee and one off (non-refundable) application fee.  Certificate IV in Finance and Mortgage Broking (FNS40815) or equivalent to current Finance Industry standard.  FBAA Compliance Fundamentals Training.  Financial Abuse Awareness Education Banking Code of Practice.  National Police Check (must not be more than 2 months old). Must be in full, legal name.  Full Credit Report including Bankruptcy Report (must not be more than 1 month old). Must be in full legal name.  Current professional working resume.  Two (2) forms of identification with one (1) being Australian Government.  External Dispute Resolution – AFCA Certificate.  Current professional indemnity insurance (PI) Certificate of Currency OR a letter of intent from your employer or aggregator that you will be covered under their group policy.  Authorised Credit Representative Number (CRN)  Confirmation of Mentoring Letter completed by the Mentor. Only required if you have LESS THAN 2 years’ experience.  ASIC Extract Page | 6 of 7 © Real Estate Academy Australia RTO 32436 Version 1.1 – January 2022

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

FNSFMK515 – Comply with financial services regulation and industry codes of practice (Release 1) CPD Research Report Question 5 Why is it important to keep and maintain relevant copies of your current membership on file according to regulatory requirements? All AFS licensees are required to have in place arrangements to ensure compliance with licence obligations. Each financial year, AFS Licensees are required to lodge an FS70 (Australian financial services licensee profit and loss statement and balance sheet) and FS71 (audit report) or FS76 (annual compliance certificate) forms with ASIC. A number of documents must be maintained by AFSL and their representatives, such as Disclosure Obligations. Read the Fact Sheet on Authorised Representative Appointments in the Additional Resources folder. ASIC also outlined its expectations regarding a mortgage broker’s record-keeping obligations, where it stipulated that it would ensure that brokers can demonstrate compliance with the best interests duty. “As a mortgage broker, we expect you to keep records of how you have acted when providing credit assistance,” ASIC noted. It's really important to keep the FBAA membership paperwork up to date. Being an FBAA member shows that we care about doing our job well and following the rules. By keeping the supporting documents related to the membership records in order, it helps to follow the rules set by ASIC and FBAA. Page | 7 of 7 © Real Estate Academy Australia RTO 32436 Version 1.1 – January 2022

FNSFMK515 - CPD Research Report v1.1

Related Documents